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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (50985)3/31/2000 5:27:00 PM
From: Ken Benes  Read Replies (4) | Respond to of 116762
 
Duh! With low gold prices, the producers should cutback production. Prices are low because there is an excess of supply. Even the sheiks in the middle east understand that concept, while our Harvard trained mining execs do not seem to understand the simplest of economic principles. It is lovely to watch barrick decline on a day that gold prices pop 2.30. Under 15.00, barrick may offer some value if you consider a trade from 15 to 18 exciting. Barrick has savaged the industry first with the innovation of hedging techniques that significantly added to supply and now they are continuing the decimation of the industry with more production than is warranted.

Ken



To: goldsheet who wrote (50985)3/31/2000 11:09:00 PM
From: Bob Dobbs  Respond to of 116762
 
I can appreciate the humor of opposing mass hysteria of goldbugs at a Gold Show.

At the time ('95) the fundamentals were not compelling but today, some 5 years later, the gap between production ~2500 tons and consumption ~4000 tons (5000 if you believe Veneroso) is widening. How can that be explainable in today's low gold price environment? Scrap only provides ~800 tons.

Bob


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